Friday morning I was invited to be a guest to talk about appraisers and how they are impacting the flow of housing sales. I was initially concerned that this would be an appraiser slam piece, blaming our industry for killing sales, causing global warming and low salaries of central bankers [1] but it wasn’t and I think I covered the bases. Kinda surreal – met and spoke briefly to Dick Morris in the green room. Cavuto was very personable before the segment, we talked about the issue before we went on.
- Sellers are generally a year behind the market
- The ranks of good appraisers were decimated by the mortgage boom
- Appraisers have long been the “punching bag” of blown deals
- Lack of data is a huge issue
Connie De Groot [2], who was the Beverly Hills real estate agent who is a regular on FBN recommended that buyers get an appraisal when pricing their property for sale – as Cavuto commented on my neutraility point, a “Swiss Appraiser.”
Watch the clip here [3] or you can watch it here [4].